NEW: BP Podcast 66: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael Blank

Hide this

From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.

BiggerPockets

General Info

BiggerPockets Q&A, Site Questions, & Announcements

1514 topics, 14397 posts — Last Post 04/18/14, 10:52PM

BiggerPockets Exclusive PRO Area

117 topics, 839 posts — Last Post 04/18/14, 05:47AM

New Member Introductions

10885 topics, 85608 posts — Last Post 04/19/14, 12:39AM

Real Estate Success Stories

396 topics, 6151 posts — Last Post 04/19/14, 12:03AM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5935 topics, 46774 posts — Last Post 04/18/14, 11:05PM

Renters

643 topics, 5812 posts — Last Post 04/19/14, 12:25AM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/16/14, 03:58AM

Home Owner Association (HOA) Issues & Problems Forum

237 topics, 1609 posts — Last Post 04/17/14, 08:53AM

Do it Yourself

654 topics, 6263 posts — Last Post 04/18/14, 04:19PM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3674 topics, 29449 posts — Last Post 04/18/14, 11:21PM

Real Estate Guru, Book & Course Reviews and Discussions

1133 topics, 11558 posts — Last Post 04/18/14, 11:03PM

Ask About A Real Estate Company

740 topics, 7318 posts — Last Post 04/18/14, 11:52AM

Real Estate Investing

Real Estate Strategies

Wholesaling

5602 topics, 43735 posts — Last Post 04/19/14, 12:24AM

Rehabbing and House Flipping

3333 topics, 30987 posts — Last Post 04/19/14, 12:35AM

Real Estate Development & New Home Construction

553 topics, 4683 posts — Last Post 04/18/14, 10:25PM

Innovative Strategies

703 topics, 6027 posts — Last Post 04/18/14, 08:48AM

Tax Liens, Notes, Paper, & Cash Flows Discussion

866 topics, 6677 posts — Last Post 04/18/14, 11:42PM

Rent to Own a.k.a. Lease Purchase, Lease Options

691 topics, 4871 posts — Last Post 04/18/14, 03:32PM

1031 Exchanges

143 topics, 1054 posts — Last Post 04/18/14, 08:41AM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1686 topics, 11285 posts — Last Post 04/18/14, 01:32PM

HUD, VA, and Tax Sales

414 topics, 3089 posts — Last Post 04/18/14, 12:05PM

REOs

1214 topics, 10570 posts — Last Post 04/17/14, 02:28PM

Short Sales

1534 topics, 13120 posts — Last Post 04/17/14, 04:44PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7201 topics, 70730 posts — Last Post 04/19/14, 12:40AM

Mobile Homes & Mobile Home Park Investing

638 topics, 5140 posts — Last Post 04/18/14, 03:22PM

Investor Basics

Starting Out

7698 topics, 60434 posts — Last Post 04/18/14, 10:39PM

Investor Psychology

431 topics, 6104 posts — Last Post 04/18/14, 06:08PM

General Real Estate Investing

4716 topics, 37182 posts — Last Post 04/19/14, 12:44AM

Real Estate Investor Marketing

1731 topics, 14093 posts — Last Post 04/18/14, 11:12PM

Commercial Real Estate

Commercial Real Estate Investing Forum

1410 topics, 8985 posts — Last Post 04/18/14, 10:17PM

Multi-Family and Apartment Investing

1109 topics, 9222 posts — Last Post 04/18/14, 10:26PM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

639 topics, 4885 posts — Last Post 04/18/14, 02:57PM

Business Basics

Goals, Business Plans & Entities

831 topics, 7562 posts — Last Post 04/18/14, 04:25PM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2785 topics, 20002 posts — Last Post 04/19/14, 12:55AM

Property Insurance

309 topics, 2045 posts — Last Post 04/17/14, 07:41PM

Personal Finance Discussion

328 topics, 2731 posts — Last Post 04/18/14, 04:33PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2832 topics, 19694 posts — Last Post 04/18/14, 06:48PM

Creative Real Estate Financing

1209 topics, 8768 posts — Last Post 04/18/14, 08:34PM

Crowdfunding Real Estate

35 topics, 461 posts — Last Post 04/18/14, 05:17PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1209 topics, 7988 posts — Last Post 04/18/14, 11:30PM

Bankers, Lenders, and Mortgage Brokers

441 topics, 1922 posts — Last Post 04/18/14, 09:39AM

Contractors

267 topics, 1677 posts — Last Post 04/18/14, 01:58PM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

1988 topics, 11603 posts — Last Post 04/18/14, 10:42PM

Americans & International Real Estate

161 topics, 566 posts — Last Post 04/14/14, 11:19AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

64 topics, 428 posts — Last Post 04/18/14, 04:22AM

Marketplace

Real Estate Marketplace

Real Estate Marketplace

15015 topics, 53950 posts — Last Post 04/18/14, 09:07PM

Real Estate Events and Happenings

164 topics, 2505 posts — Last Post 04/19/14, 12:04AM

Off-Topic

Off Topic

Off-Topic

2905 topics, 32408 posts — Last Post 04/18/14, 05:31PM

Housing News & Real Estate Market

914 topics, 8351 posts — Last Post 04/17/14, 08:41AM

BiggerPockets Real Estate Investing Summit

97 topics, 1751 posts — Last Post 04/10/14, 02:27PM

BiggerPockets Resources

Forums » Starting Out » Cancelled Foreclosure Auction... Now what?

Cancelled Foreclosure Auction... Now what?

11 posts by 7 users

Signup

Real Estate Investor · Lynchburg, Virginia


A couple of the auctions for homes near me go cancelled, and I understand that this can be for a multitude of reasons, but I'm wondering how I can find out why the auction was cancelled? I'd like to continue to track these houses... where should I start?

Thanks.



SFR Investor · Scottsdale, Arizona


start with asking the trustee



Real Estate Investor · Independence, Iowa


Forget why they were canceled!
You can go to your county web site or walk into to court house( where they record the real estate transactions) and look up by address or parcel number. Give the county workers time to make the updates or record the updates.
I am not sure why you want to watch these properties since they were kept by their original owner or purchased by an investor prior to the foreclosure auction. Do you think they will again be sold and for a price range you are willing to buy?
Are there no other properties in your area that are of interest to you? Or have you done all the prelim work in researching these properties and do not want the time to be wasted?



SFR Investor · Wheat Ridge, Colorado


County of Denver publishes this data weekly on their web site. Many sales get postponed several times, but then end up happening. It does look like there are some deals at the auction, but you need cash on the spot.


Jon Holdman, Flying Phoenix LLC


SFR Investor · Scottsdale, Arizona


Jon, does the website publish why the auction was postponed?



SFR Investor · Wheat Ridge, Colorado


No, I can't see that they do. There are two pages with relevant reports:

Sales Results lists two reports after each auction. One is the list of properties that went to auction and the other is the list of continuances. Looks like most properties that are continued are only continued for one week.

Sales Bids shows the bids for the upcoming or previous sale (Sales Bids) and the list of properties for the upcoming auction (Sales Report).

Comparing these, it looks like a majority of the scheduled properties actually get continued. I'm not sure when the new bids are put up. I've just not watched too closely. As of right now, about noon on Tuesday, last weeks bids are still up. The auction happens at 10:00 AM Thursday. So, sometime in the next 46 hours the new bids must be posted.


Jon Holdman, Flying Phoenix LLC


Real Estate Investor · Lynchburg, Virginia


Originally posted by Teresa K.:
Forget why they were canceled!
You can go to your county web site or walk into to court house( where they record the real estate transactions) and look up by address or parcel number. Give the county workers time to make the updates or record the updates.
I am not sure why you want to watch these properties since they were kept by their original owner or purchased by an investor prior to the foreclosure auction. Do you think they will again be sold and for a price range you are willing to buy?
Are there no other properties in your area that are of interest to you? Or have you done all the prelim work in researching these properties and do not want the time to be wasted?

No thanks. I think I'll keep track of why they were cancelled.

I want to continue following simply to be aware of what's going on with them and what's going on in the area. I understand that these properties sometimes become REOs, which I'm very interested in as a real estate investor, or sometimes the owner will make-up back payments and get the house out of foreclosure (only to go back into foreclosure later), or sometimes the bank will decide to list it with a Realtor, etc. etc.

You can't pick these houses up at a discount if you don't know what's happened to them or who owns them. I'm just trying to figure out how to find out where they've gone.




This post has been hidden.


Real Estate Investor · Audubon, Pennsylvania


If you are fortunate enough to be looking in the right places, some counties will give the reason. I see things like "postponed to [date]", "bankruptcy", "stayed", "sold for costs", "sold to third party", and probably others that I can't remember offhand.

"Sold for costs" end up as REO; "sold to third party" can sometimes end up as REO too (when a junior lien holder put in a bid to cover debt owed to him, and ended up highest bidder).

The "postponed", "stayed" and "bankruptcy" listings are candidates to find their way back onto the for sale list in the future; they also present other possiblities as mentioned by Dan's earlier posting.

Often, the sale can be be delayed when there is a signed arm's-length contract for sale of the property, so they don't always make it back to auction.

And I did see (at least once) a default get cured in time to prevent the auction, where the foreclosure judgment at the county prothonotary ended up becoming "vacated".


Steve Babiak, Redeeming Properties, LLC
Telephone: 6109082183
...


Real Estate Investor · San Jose, California


I make a list of houses scheduled to be sold at auction and market to them. I assume that the auction goes through on all of them and stop sending mailers, calls, etc on that date.

I guess I could go through the added expense of tracking each house individually to see if it was canceled so I could continue marketing to them, but I haven't bothered.

I don't really care if they go through or not if I'm not buying them. This is usually a concern for the shlubs who attend auctions to bid.



Real Estate Investor · Lynchburg, Virginia


Originally posted by Steve Babiak:
If you are fortunate enough to be looking in the right places, some counties will give the reason. I see things like "postponed to [date]", "bankruptcy", "stayed", "sold for costs", "sold to third party", and probably others that I can't remember offhand.

"Sold for costs" end up as REO; "sold to third party" can sometimes end up as REO too (when a junior lien holder put in a bid to cover debt owed to him, and ended up highest bidder).

The "postponed", "stayed" and "bankruptcy" listings are candidates to find their way back onto the for sale list in the future; they also present other possiblities as mentioned by Dan's earlier posting.

Often, the sale can be be delayed when there is a signed arm's-length contract for sale of the property, so they don't always make it back to auction.

And I did see (at least once) a default get cured in time to prevent the auction, where the foreclosure judgment at the county prothonotary ended up becoming "vacated".


Where do you get this information?

I talked to a couple of the trustees today and one of them did not know why the auction was cancelled but gave me the name of the lender. She said that sometimes they are told why the auctions cancel and sometimes they aren't.

I called another trustee company hoping for the same result and she simply wouldn't give me any information at all about the result of the auction, and said it was illegal for them to disclose information about the lender or result.

Would the clerk's office know what happened to these properties?





Sign up